CAC 40 Extends Gains As Investors Await Powell's Speech
(RTTNews) - French stocks opened higher on Friday to extend gains from the previous session amid hopes that the United States could soon reach debt ceiling deal to avoid a default.
Meanwhile, traders shrugged off comments from Fed officials on interest rates staying high.
Dallas Federal Reserve Bank President Lorie Logan said current data doesn't justify pausing rate hikes yet.
St. Louis Fed President James Bullard reaffirmed his support for lifting interest rates further as an "insurance" policy against inflation.
Fed Governor and vice chair nominee Philip Jefferson said that progress on inflation is slowing, but it is still too early for the full impact of the interest rates over the past year to be fully felt.
Fed Chair Jerome Powell, ECB President Christine Lagarde and New York Fed's John Williams are scheduled to speak later today.
The benchmark CAC 40 was up 45 points, or 0.60 percent, at 7,492 after rising 0.6 percent in the previous session.
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